All firms attempt to maximize profits.
a. True
b. False
You are about to launch a digital advertising startup. Your former marketing professor
warns you to get the first element in the marketing strategy right because otherwise,
your new company is doomed to failure. Which is this essential element?
a. Target market
b. Promotion
c. Price
d. Distribution
e. Product
Peoples’ perception of an object or event results from an interaction between their:
a. likes and dislikes.
b. emotions and thoughts.
c. stimulus factors and individual factors.
d. needs and wants.
The application of relationship marketing requires attention to levels of customer
loyalty. Which of the following is the highest level as defined by this type of
marketing?
a. Loyal supporter of the company and its goods and services.
b. Advocate who not only buys the products but recommends them to others.
c. Regular purchaser of the company’s products.
d. Stockholder who literally buys into the organization and its mission.
Organizational buyers tend to have much more precise and complex requirements for
goods and services than ultimate consumers.
a. True
b. False
Firms that value customer satisfaction understand that:
a. Customer satisfaction can be measured in terms of how much the customer paid for
the firms’ products.
b. Any method that makes it easier for customers to complain is counterproductive.
c. Firms should only employ reactive methods for collecting customer feedback.
d. Customer satisfaction must be continually monitored.
e. Knowing the customers’ lifetime value is a central concern of building relationships.
Which of the following would qualify as an example of a firm’s weakness?
a. Changing buyer tastes in the marketplace
b. The presence of modern production facilities
c. Inadequate financing capabilities
d. An addition to the current product line
Nonpersonal selling of a particular good or service is called _____ advertising.
a. institutional
b. product
c. corporate
d. retail
Research that evaluates an ad during its development stage is called _____.
a. noise
b. advertising
c. promotion
d. publicity
e. sales promotion
f. guerrilla marketing
g. posttesting
h. split runs
i. cooperative advertising
j. marketing public relations
k. media scheduling
l. pretesting
m. informative advertising
n. persuasive advertising
o. retail advertising
p. missiles
q. cross-promotion
r. interactive advertising
s. sponsorship
t. institutional marketing
Internet-based retailers usually maintain little or no inventory and order directly from
vendors to fill customer orders received via their websites.
a. True
b. False
An ethical issue surrounding online advertising is the use of cookies, small text files
automatically downloaded to a user’s computer or mobile device when a site is visited.
a. True
b. False
In the _____ stage of the sales process, the salesperson contacts the potential customer
for the first time.
a. precall planning
b. prospecting
c. approach
d. qualifying
Perception is the meaning a person attributes to incoming stimuli gathered through the
senses of hearing, taste, smell, touch, and sight.
a. True
b. False
A research design is a master plan or model for conducting marketing research.
a. True
b. False
Countertrading can be utilized by a country as a way to control its balance-of-trade
problems.
a. True
b. False
A(n) _____ carries a wide variety of product lines, stocking all of them in some depth.
a. stock-keeping unit (SKU)
b. markup
c. markdown
d. retail convergence
e. scrambled merchandising
f. atmospherics
g. broker
h. general merchandise retailer
i. category killer
j. rack jobber
k. supercenter
l. auction house
m. specialty store
n. retailers
o. mass merchandiser
p. truck jobber
q. direct marketing
r. drop shipper
s. planned shopping center
t. wheel of retailing
Antitrust legislation has eliminated all monopolies including the temporary monopolies,
such as those created through patent protection.
a. True
b. False
Citibank offers an opportunity for credit card customers to transfer balances from
competitive cards and pay low financing for a six-month period. After the introductory
period is over, the rate will increase to the normal interest rate. Citibank’s strategy is to
penetrate the market and obtain increased market share.
a. True
b. False
The Kirkland brand is owned by Costco, and the products can only be purchased at
Costco stores. Costco contracts with manufacturers to produce and package products
under the Kirkland name. Kirkland can be regarded as a(n):
a. family brand.
b. individual brand.
c. generic brand.
d. private brand.
Personal selling plays a much bigger role in consumer markets than in business
markets.
a. True
b. False
Marketers face a new set of ethical and legal issues as social media becomes more
essential to the success of the firm’s marketing strategies. Moreover, as the social media
landscape continues to evolve and expand, new ethical situations continue to appear. As
a marketer, it is almost guaranteed that you or your organization will eventually make a
mistake with your use of social media. So, when you make that certaintooccur mistake
with social media, which of the following should you do?
a. Immediately hire a public relations firm to do damage control.
b. Limit all communications with external media sources.
c. Hold a press conference to deny all allegations.
d. Try to deflect the blame for the mistake to something or someone else.
e. Be accountable and take action to resolve the issue.
_____ describes the values, beliefs, preferences, and tastes handed down from one
generation to the next.
a. evoked set
b. consumer behavior
c. culture
d. reference group
e. Asch phenomenon
f. opinion leader
g. need
h. motive
i. perception
j. attitude
k. learning
l. subliminal perception
m. high-involvement purchase decision
n. closure
o. cognitive dissonance
p. routinized response behavior
q. shaping
r. perceptual screens
s. evaluative criteria
t. self-concept
Which of the following is true regarding the marketing concept?
a. During tough economic times, the marketing concept focuses on the objective of
achieving shortterm profits instead of longrun success.
b. The marketing concept believes that consumers will resist purchasing nonessential
goods and services.
c. The marketing concept emphasizes cutting costs and boosting revenues during tough
economic times.
d. A firm’s survival and growth are built into the marketing concept.
Developing a relevant user profile is the first step in the market segmentation process.
How are segment profiles used to identify the typical customer in each segment?
a. Segment profiles are used to describe differences among members of a market
segment, and to explain similarities among members in separate market segments.
b. Segment profiles are used to describe differences among members of a market
segment, and to explain differences among members in separate market segments.
c. Segment profiles are used to describe similarities among members of a market
segment, and to explain similarities among members in separate market segments.
d. Segment profiles are used to describe preferences among members of a market
segment, and to explain preferences among members in separate market segments.
e. Segment profiles are used to describe similarities among members of a market
segment, and to explain differences among members in separate market segments.
Customer relationship management (CRM) requires a top-down commitment to
succeed and must penetrate every aspect of a firm’s business.
a. True
b. False
A supercenter is usually larger than a hypermarket.
a. True
b. False
The history of U.S. government regulation can be divided into four phases: the
antimonopoly period, _____, consumer protection, and industry deregulation.
a. protecting trade
b. protecting competitors
c. protecting cyberspace
d. protecting privacy
Jenny has been appointed the marketing manager for Spark Cleaning Products. Her job
focuses on decisions involving customer service, package design, brand names, and
warranties. In this scenario, Jenny is closely associated with the _____ dimension of the
marketing planning.
a. product strategy
b. resource valuation and pricing
c. retailing and distribution
d. target market
Vanessa owns a music company and has been storing a wealth of information ranging
from customer contact information to the names of each record the customers have
purchased. In order to stay competitive, she had a tech company build a marketing
decision support system (MDSS) for her to enable quick decision making. One of the
features Vanessa likes best about her company’s MDSS is the system’s ability to
manage and produce information in various formats. Moreover, as the user or decision
maker changes topics, the system matches information to the problem that has been
introduced.
Which of the following characteristics of a marketing decision support system is
represented in the example above?
a. flexibility
b. interactivity
c. accessibility
d. inexpensiveness
e. investigative properties
A(n) _____ is a symbol or a pictorial design that distinguishes a product.
a. trade dress
b. brand preference
c. brand insistence
d. generic product
e. family brand
f. brand equity
g. product diversification
h. trademark
i. brand extension
j. consumer innovator
k. brand name
l. private brand
m. brand manager
n. universal product code (UPC)
o. cannibalization
p. product liability
q. captive brand
r. brand mark
s. line extension
t. label
Courtney is an automotive sales representative for Sherwin Williams and works
exclusively with Toyota in order to deliver high levels of service and ensure that the
products are performing as they should for Toyota. Since Courtney only has one
customer account, she is classified as a:
a. national account representative
b. exclusive account representative
c. territory account representative
d. preferred account representative
A _____ wholesaler performs most wholesaling functions except for financing and
delivery.
a. commission
b. clearing
c. brokering
d. cash-and-carry
Connotea is a social media platform aimed primarily at scientists and clinicians, where
users can post news items and links to outside articles, then vote on which postings get
the most prominent display. Connotea is an example of an online forum.
a. True
b. False
Which of the following agreements has created opportunities for U.S. financial, legal,
and accounting firms by including services under international trading rules and has
phased-out import quotas on textiles and clothing from developing nations?
a. The Treaty of Commerce and Navigation
b. The Central American Free Trade Agreement-DR
c. The General Agreement on Tariffs and Trade
d. The North American Free Trade Agreement